Blueshift Asset Management LLC Acquires Shares of 1,024 Synopsys, Inc. (NASDAQ:SNPS)

Blueshift Asset Management LLC bought a new position in shares of Synopsys, Inc. (NASDAQ:SNPS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,024 shares of the semiconductor company’s stock, valued at approximately $519,000.

Several other institutional investors have also recently made changes to their positions in the company. Freedom Investment Management Inc. boosted its position in shares of Synopsys by 28.2% during the third quarter. Freedom Investment Management Inc. now owns 2,816 shares of the semiconductor company’s stock valued at $1,426,000 after purchasing an additional 619 shares in the last quarter. Townsquare Capital LLC lifted its position in Synopsys by 9.8% during the third quarter. Townsquare Capital LLC now owns 5,700 shares of the semiconductor company’s stock valued at $2,886,000 after buying an additional 508 shares during the period. Baldwin Investment Management LLC boosted its holdings in shares of Synopsys by 124.8% during the 3rd quarter. Baldwin Investment Management LLC now owns 5,151 shares of the semiconductor company’s stock valued at $2,608,000 after buying an additional 2,860 shares in the last quarter. Thematics Asset Management grew its position in shares of Synopsys by 18.4% in the 3rd quarter. Thematics Asset Management now owns 140,869 shares of the semiconductor company’s stock worth $71,335,000 after buying an additional 21,912 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of Synopsys by 12.6% in the 3rd quarter. Brooklyn Investment Group now owns 599 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Synopsys Stock Performance

NASDAQ SNPS opened at $547.74 on Thursday. Synopsys, Inc. has a one year low of $457.52 and a one year high of $629.38. The stock has a 50-day moving average of $524.12 and a 200 day moving average of $545.71. The company has a market capitalization of $84.14 billion, a price-to-earnings ratio of 56.82, a PEG ratio of 3.43 and a beta of 1.08.

Wall Street Analyst Weigh In

Several research firms recently commented on SNPS. Wells Fargo & Company assumed coverage on shares of Synopsys in a research note on Friday, November 22nd. They set an “equal weight” rating and a $570.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $635.00 price target on shares of Synopsys in a research report on Friday, August 23rd. Mizuho assumed coverage on Synopsys in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $650.00 price target on the stock. Piper Sandler lowered their price objective on Synopsys from $687.00 to $670.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird increased their target price on Synopsys from $661.00 to $663.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $653.80.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.